Singapore Press Holdings (SPH), the sponsor and major unitholder of SPH REIT, announced it is undergoing a strategic review to consider options for its various businesses. Credit Suisse has been appointed financial advisor.

“While SPH’s Media business continues to face a challenging operating environment and outlook, the Board of Directors believes that SPH remains undervalued and the objective of the strategic review is to unlock and maximise long term shareholder value,” the March 30 announcement said.

The quickest way for SPH to unlock value is to list its second REIT which comprises $1.4 billion of purpose-built student accommodation (PBSA) in the UK. The portfolio was headed for an IPO last year but was derailed by Covid-19, according to investment bankers.

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